The First Solar, Inc. (FSLR) Rating Increased to Strong-Buy at Vetr Inc.

The First Solar, Inc. (FSLR) Rating Increased to Strong-Buy at Vetr Inc.

First Solar, Inc. (NASDAQ:FSLR) was upgraded by stock analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research report issued on Wednesday. The brokerage presently has a $54.35 price objective on the solar cell manufacturer’s stock. Vetr‘s price target indicates a potential upside of 14.69% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. BidaskClub raised shares of First Solar from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. JMP Securities set a $67.00 price target on shares of First Solar and gave the company a “buy” rating in a report on Wednesday, August 16th. TheStreet raised shares of First Solar from a “d+” rating to a “c” rating in a report on Wednesday, July 19th. ValuEngine raised shares of First Solar from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Finally, Roth Capital lifted their price target on shares of First Solar from $40.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, July 26th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. First Solar currently has a consensus rating of “Hold” and a consensus target price of $45.24.

First Solar (FSLR) traded down 2.51% on Wednesday, reaching $47.39. 1,957,549 shares of the company’s stock traded hands. The firm’s 50-day moving average is $47.70 and its 200 day moving average is $41.62. The stock’s market capitalization is $4.95 billion. First Solar has a 52-week low of $25.56 and a 52-week high of $53.00.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Thursday, July 27th. The solar cell manufacturer reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.60. First Solar had a negative net margin of 18.80% and a positive return on equity of 6.43%. The company had revenue of $623.00 million during the quarter, compared to the consensus estimate of $591.55 million. During the same period last year, the firm earned $0.87 EPS. The firm’s revenue for the quarter was down 38.7% compared to the same quarter last year. Analysts forecast that First Solar will post $2.21 EPS for the current year.

In related news, CFO Alexander R. Bradley sold 566 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $48.66, for a total transaction of $27,541.56. Following the completion of the transaction, the chief financial officer now owns 963 shares in the company, valued at $46,859.58. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark R. Widmar sold 43,189 shares of First Solar stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $48.55, for a total transaction of $2,096,825.95. Following the completion of the transaction, the chief executive officer now directly owns 107,454 shares in the company, valued at approximately $5,216,891.70. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 94,674 shares of company stock valued at $4,655,846. Corporate insiders own 0.58% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in FSLR. OppenheimerFunds Inc. lifted its stake in First Solar by 92.8% in the first quarter. OppenheimerFunds Inc. now owns 22,935 shares of the solar cell manufacturer’s stock valued at $622,000 after buying an additional 11,037 shares in the last quarter. Principal Financial Group Inc. lifted its stake in First Solar by 171.3% in the first quarter. Principal Financial Group Inc. now owns 314,986 shares of the solar cell manufacturer’s stock valued at $8,536,000 after buying an additional 198,889 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in First Solar by 356.1% in the first quarter. PNC Financial Services Group Inc. now owns 24,331 shares of the solar cell manufacturer’s stock valued at $658,000 after buying an additional 18,996 shares in the last quarter. Thrivent Financial For Lutherans bought a new position in First Solar in the first quarter valued at approximately $406,000. Finally, Dimensional Fund Advisors LP lifted its stake in First Solar by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,756,980 shares of the solar cell manufacturer’s stock valued at $74,715,000 after buying an additional 158,896 shares in the last quarter. 53.60% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Company Profile

First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.

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